View Single Post
  #6066  
Old 23.10.2016, 19:52
Jim2007's Avatar
Jim2007 Jim2007 is offline
Forum Legend
 
Join Date: Jun 2006
Location: Kt. Bern
Posts: 4,373
Groaned at 206 Times in 163 Posts
Thanked 7,095 Times in 3,167 Posts
Jim2007 has a reputation beyond reputeJim2007 has a reputation beyond reputeJim2007 has a reputation beyond reputeJim2007 has a reputation beyond reputeJim2007 has a reputation beyond reputeJim2007 has a reputation beyond repute
Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

Quote:
View Post
The worst bit is the last line in the Independent column on it where the Banker guy says that both Britain and Europe financial institutions will be worse off for it but that's something the EU politicians would be prepared the do to hurt the UK. Incredible really.
I noticed that line too, but what I find incredible is that the banker seems to think it will hurt the EU as much as it will the UK. If the UK loose passporting the we can expect that the banks will either client support operations within the EU to support their customers. Which produces a few positives for the EU perspective:
- Customers continue to receive the services they need
- New tax stream for the countries concerned
- New jobs depending I guess on how many UK staff would be willing to move and can get permits
- The transaction tax would be much easier to impose
- And the banks would be under closer supervision of the EU institutions

Presumable what would be left behind is the securitisation etc, the risk stuff in other words because the UK is a less regulated market place. Which is precisely the kind of stuff you'd prefer the UK citizens to be on the hook for if you are an EU taxpayer.

So I have the distinct impression that the people who have the most to loose is the bankers not the citizens of the UK or the EU if the deal does not go through.
__________________
"There is no passion to be found playing small - in settling for a life that is less than the one you are capable of living." - Nelson Mandela
Reply With Quote